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Are Nigerian Bank Holding Companies Taxable on Dividend?
0₦2,500.00Professor Taofeeq Abdulrazaq, Provost, Nigerian Academy of Taxation and Partner, Saffron Professional Services in his article “Are Nigerian Bank Holding Companies Taxable On Dividend?” examines the provisions of the Companies Income Tax Act and FIRS Circulars on Franked Investment Income and the liability of holding companies for tax on dividend paid by their subsidiary companies.
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Are Private Car Parks Liable to Local Governments Levies? A Review of Airtel Networks Ltd v A.G. Lagos State
0₦2,500.00Olagoke Odubunmi, Manager Tax Services, Maples and Temples is his article, Are Private Car Parks Liable Local Governments Levies? A Review of Airtel Networks Ltd A.G. Lagos State observes that the conflict of jurisdiction to tax has often been one of the significant areas of dispute amongst the tiers of government in a federating state like Nigeria. The interplay of the jurisdictional powers of the federal, state and local governments often come to the fore in the construction, interpretation and application of constitutional provisions on the legislative powers of each tier. Odubunmi reviews the decision of the Court of Appeal in the Airtel’s case on the extent of the powers of local governments to impose and collect motor park levies on parks owned and operated by private companies for the benefit of their employees.
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Artiste Rights Management in Nigeria – Putting A Label on Competing Claims
0₦2,500.00Aso Etea, Partner, Calmhill Partners, Lagos Nigeria in his article, Artiste Rights Management in Nigeria – Putting A Label on Competing Claims, reflects on the state of, and issues besetting, the creative industry in Nigeria. He graphically depicts ‘the making and breaking of careers’ of some artistes and what they ought to have done better. Aso examines the critical terms to be negotiated under any management or recording deal, intellectual property rights available under such contracts, and available recourse when the rights are infringed. He proposes an improved dispute resolution system for media and Intellectual Property (IP) related cases for faster evolution of the industry.
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Attorney General of Rivers State v Federal Inland Revenue Service: Which Level of Government in Nigeria Has the Power to Impose or Collect Value Added Tax?
0₦2,500.00Dr Jirinwayo Jude Odinkonigbo of Templars and Faculty of Law University of Nigeria, in his article, Attorney General of Rivers State v Federal Inland Revenue Service: Which Level of Government in Nigeria Has the Power to Impose or Collect Value Added Tax?notes that since the inception of the 1999 Constitution of Nigeria, there have been debates over the taxing powers of the different levels of government, especially with regards to the Value Added Tax (VAT). For the first time and contrary to a prevailing general perception in the country, the Federal High Court in Attorney General of Rivers State v Federal Inland Revenue Service held that the Federal Government does not have the power to impose or collect VAT. The Court decided that only a State Government or its agency is empowered under the Constitution to collect VAT. Dr Odinkonigbo reviews this vital decision, highlighting its pros and cons and offering suggestions on how the legal impasse could be resolved according to the spirit of the Constitution.
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Bank Lending and Mortgage Consent in Nigeria
0₦2,500.00Dr. Adesina Bello, Senior Lecturer, Department of Private and Commercial Law, Babcock University Iperu-Remo in his article, Bank Lending and Mortgage Consent in Nigeria considers the judicial treatment of failure to comply with the provision of sections 22 and 26 of the Land Use Act (LUA) which makes unlawful, and indeed nullifies, any alienation of a right of occupancy without the consent of the Governor first had and obtained. He posits that the restrictive provision of the LUA, and the relative narrow interpretation by the courts may have contributed to the present cumbersome and bureaucratic process of loan documentation, frustration of the concept of securitization, and stifling of the mortgage business in Nigeria.
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Banker’s Order: An Examination of the Liabilities for Wrongful Dishonour of Cheques
0₦2,500.00Michael Ogunjobi, of the Chambers of Norrison I. Quakers SAN, in his article, Banker’s Order: An Examination of the Liabilities for Wrongful Dishonour of Cheques, flays the practice by which Police Officers ‘freeze’ bank accounts acting on the so-called Banker’s Order’ issued by Magistrates. Ogunjobi examines the legality of the Banker’s Order, the bank’s customer’s liability for a dishonoured cheque and the reliefs the customer may pursue against the bank for a dishonoured cheque.
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Bernard Longe v First Bank Plc: Unsettling Settled Principles of Employment and Corporate Law
0₦2,500.00Akintunde Emiola, Emeritus Professor of Business Law and Former Dean of Faculties of Law, Ambrose Alli University, Delta State University, and Niger Delta University, and Dr Idowu Akinloye of the Faculty of Law, Ajayi Crowther University, Oyo, Nigeria, in their article, Bernard Longe v First Bank Plc: Unsettling Settled Principles of Employment and Corporate Law, cast a second look at the celebrated Nigerian Supreme Court case. They argue that the failure of the Court to consider the effects of suspension on a director who is also an employee, and to distinguish between an executive and non-executive director led the Court to a wrong decision. Emiola and Akinloye argue that the decision of the Supreme Court unsettles established and settled principles of corporate and labour law and ought to be reviewed at the earliest opportunity.
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Book Review: Commercial Law in Nigeria: Sale of Goods
0₦2,500.00Dr. Ndubuisi Nwafor offers a comprehensive review of a work by a renowned author on Commercial Law in Nigeria. The Book – Commercial Law in Nigeria: Sale of Goods published in 2023 offers a comprehensive exploration of the intricate landscape of the sale of goods under commercial law within the Nigerian context. Structurally organised in eleven chapters, each delving into a distinct subject of sale of goods, the book offers a source of interesting reading by students, practitioners and members of the judiciary.
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Bots in the Studio: Contemplating the Question of Authorship in Artificial Intelligence (AI)-Generated Art in Nigeria
0₦2,500.00Abraham Edoka Otene in his article, Bots in the Studio: Contemplating the Question of Authorship in Artificial Intelligence (AI)-Generated Art in Nigeria, explores the authorship of AI generated works under the Copyright regime of Nigeria drawing extensively from how other jurisdictions have dealt with or are dealing with issues it raises and concludes that the best approach the country should take when it finally has to deal with it is to recognize the end user of the AI tool as the author of the artistic work. Just a few years ago, the thought of using text prompts to create works of art that are as close as possible to reality would seem like a thing reserved for science-fiction movies. In today’s world, however, art generated using AI has not only become commonplace but is also creating sensation with it. While Nigeria has not dealt with the question of authorship of such works either at the legislative, executive, or judicial level, there is no doubt that it is only a matter of time before the question arises.
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Can an Action In Rem be Validly Commenced Without the Relevant Vessel being A Party to the Suit? A Commentary on K. Maertsch & Ors v Biswa
0₦2,500.00Dr. Chukwuechefu Ukattah, Senior Associate, Olaniwun Ajayi LP asks a pertinent question in: Can an Action in Rem Be Validly Commenced Without The Relevant Vessel Being A Party To The Suit? A Commentary on K. Maertsch & Ors v Biswa. He reviews the decision of the Court of Appeal in the cited case, and using it as a background, explains the different types of admiralty actions and whether a proper action in rem can be constituted without the joinder of the vessel, and whether the non-joinder of the offending vessel in a suit for its arrest, is fatal to the action.
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Carbon Taxation as a Lever for Advancing Environmental Pollution Control in Nigeria
0₦2,500.00Dr Kayode Oyende, Senior Lecturer, Department of Public and Private Law, Lagos State University, Nigeria in his article, Carbon Taxation as a Lever for Advancing Environmental Pollution Control in Nigeria, explains that a carbon tax is imposed on the price of carbon and its products, which have been established to be responsible for emissions arising from the burning of carbon products, thereby leading to the increase in Green House Gases. Dr Oyende notes that environmental pollution and degradation have arisen because of the indiscriminate destruction of the environment due to the anthropogenic activities of humans in their quest for development. These activities, if not checked, will lead to increased carbon emissions. Carbon taxation is one of the ways of checking this menace by imposing taxes on the production of these carbon-causing substances.
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Case Scheduling and Management in Nigeria: Between the Rules and Practice – Order 22 of the Court of Appeal Rules in Focus
0₦2,500.00Dr Chukwuma Chinwo and Mondenghe Essien of the Amazing Grace Partners, Port Harcourt, Nigeria, in their article, Case Scheduling and Management in Nigeria: Between the Rules and Practice – Order 22 of the Court of Appeal Rules In Focus, note that the problem of delay in the administration of justice is a universal and age-old one. Many nations and jurisdictions have devised different methods by which they can curb the adverse effects. Chinwo and Essien review the problem in Nigeria, examine the constitutional provisions and identify some factors contributing to delay in the administration of justice. They proffer some solutions by examining Order 22 of the Court of Appeal Rules, 2021, which makes express provisions for case management and scheduling. They conclude that there is a lot to be done by the courts and other stakeholders in the justice delivery chain to attain the essence of the reforms anticipated by the rules.
